Prelude Therapeutics Inc 2025年季度报告

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial StatementsBalance Sheets (Unaudited) Statements of Operations and Comprehensive Loss (Unaudited)Statements of Changes in Stockholders’ Equity (Unaudited)Statements of Cash Flows (Unaudited)Notes to Unaudited Interim Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures PART I—FINANCIAL INFORMATION PRELUDE THERAPEUTICS INCORPORATED PRELUDE THERAPEUTICS INCORPORATED PRELUDE THERAPEUTICS INCORPORATED PRELUDE THERAPEUTICS INCORPORATED PRELUDE THERAPEUTICS INCORPORATED STATEMENTS OF CASH FLOWS(UNAUDITED) PRELUDE THERAPEUTICS INCORPORATED NOTES TO UNAUDITED INTERIM FINANCIAL STATEMENTS 1. Background Prelude Therapeutics Incorporated (the “Company”) is a clinical-stage precision oncology company built on a foundation ofdrug discovery excellence to deliver novel precision cancer medicines to underserved patients. Since beginning operations in 2016,the Company has devoted substantially all its efforts to research and development, conducting preclinical and clinical studies, 2. Risks and liquidity The Company faces a number of risks common to early-stage companies in the biotechnology industry. Principal among theserisks are the uncertainties in the development process, development of the same or similar technological innovations bycompetitors, protection of proprietary technology, dependence on key personnel, compliance with government regulations andapproval requirements, and the need to obtain additional financing to fund operations. Product candidates currently underdevelopment will require significant additional research and development efforts, including extensive preclinical and clinicaltesting and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification(“ASC”) 205-40, Presentation of Financial Statements—Going Concern, which requires management to assess the Company’sability to continue as a going concern within one year after the date the financial statements are issued. Since its inception, theCompany has incurred operating losses and had an accumulated deficit of$615.6millionas of March 31, 2025. The Company has At March 31, 2025, the Company had cash, cash equivalents, restricted cash and marketable securities totaling $103.1million. Absent additional funding, the Company believes that its cash, cash equivalents, restricted cash and marketable securitieswill not be sufficient tofund its operating expenses and capital expenditure requirements for at least the next twelve months fromthe filing date of this Quarterly Report on Form 10-Q. As a result, substantial doubt exists about our ability to continue as a goingconcern. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization To fund its operating expenses and capital expenditure requirements, the Company plans to seek additional funding throughpublic or private equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. The Companymay not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into strategic alliancesor other arrangements on favorable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the 3. Summary of significant accounting policies The complete summary of significant accounting policies included in the Company’s financial statements for the year endedDecember 31, 2024 can be found in “Note 3. Summary of significant accounting policies” of the Company’s Annual Report on Basis of presentation The accompanying unaudited interim financial statements have been prepared in accordance with generally acceptedaccounting principles (“GAAP”) for interim financial information, the instructions to Form 10-Qand Article 10of Regulation S-X.They do not include all of the information and notes required by GAAP for complete financial statements. In the opinion ofmanagement, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have beenincluded. Operating results for the three months ended March 31, 2025 are not nece